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Innovate Ventures, the leading Somali tech and business startup accelerator launched in partnership with VC4A, Telesom, and the Work in Progress! Alliance, had their second cohort of 10 startups from Somaliland and Somalia graduate from their program. This year’s accelerator saw over 400 applications received, building on the traction of last year’s program. The seed investment given doubled from $15,000 last year to $30,000.
The Innovate Accelerator is a 12-week program created to support and fund the next wave of Somali startups. Mentorship and training was provided by domain experts and entrepreneurs and four startups from the programme received $30,000 in investment from Innovate Ventures Fund.
- First place winner: Bilan Baby, a startup that sells baby furniture, accessories and baby clothing as well as maternity products.
- Second place winners: SAMS, an agritech marketplace for farmers and buyers, Almijet – digital printing company.
- Third place winner: Brandkii, an online marketing and advertising startup